TORONTO, Nov. 14, 2012 /CNW/ - A disciplinary hearing in the matter of Cheng Han Lee (the
"Respondent") was held today in Vancouver, British Columbia before a
three-person Hearing Panel of the MFDA's Pacific Regional Council. The
Hearing Panel found that the allegations set out in the Notice of
Hearing dated July 20, 2012 had been established:

Allegation #1: Between April 8, 2010 and April 14, 2010, the Respondent failed to deal
fairly, honestly and in good faith with client SW by processing
redemptions in client SW's accounts and then re-investing the
redemption proceeds in a manner which required client SW to
unnecessarily incur $4,513 in deferred sales charges and allowed the
Respondent to earn $2,528 in sales commissions, contrary to the
Member's short-term reinvestment policy and MFDA Rule 2.1.1.

Allegation #2: Commencing April 7, 2011, the Respondent has failed or refused to
attend an interview requested by the MFDA during the course of an
investigation, contrary to section 22.1 of MFDA By-law # 1.

The Hearing Panel imposed the following sanctions and costs at the
conclusion of the hearing and advised that it will issue written
reasons for its decision in due course:

a permanent prohibition on the authority of the Respondent to conduct
securities related business while in the employ of, or associated with,
any MFDA Member;

The MFDA is the self-regulatory organization for Canadian mutual fund
dealers, regulating the operations, standards of practice and business
conduct of its 119 Members and their approximately 80,000 Approved
Persons with a mandate to protect investors and the public interest.

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